Perception & Attractiveness of Home Loan among Professionals of Different Levels of Organizations: A Study on Selected Professionals of Sylhet City, Bangladesh

Abstract

Home loan is a loan advanced to a person to assist in buying a house or flat. Home Loan is a Secured loan offered against the security of a house/property which is funded by the bank’s loan, the property could be a personal property or a commercial one. As home loan is a long term commitment of 15-20 years, so this is a major decision of professionals. The study was conducted to find out the relationship between different factors and intention of professionals to have their own house. The research is to study the status employees’ interest and ability to enjoy the home loan provided by the financial institutions, so it is the research of descriptive nature. The researchers have to depend on Stratified Probabilistic type of sampling to ensure the representation of different professionals of that area. The primary data was collected from the employees who have the intention to build houses or already built houses through questionnaire and interview and the secondary data from different articles, publications of organizations, newspapers and magazines etc.. The frequency distributions, cross-tabs and Chi-square analysis is used to interpret the data.  The research found a significant relationship between present living places of professionals, flow of normal activities after taking such loan and the awareness of such loan with the intention of having their own home by taking home loans. Though the relationship between other factors such as: age, experience, profitability perception, reasons, ability gap, interest rate and installments with the intention of own home are not established significantly in this research, but some imperatives can be found for the lenders from these findings.